(Toronto) Postmedia Network Canada, owner of several newspapers in the country, recorded a net loss of 20.1 million during its last quarter, compared to a loss of 20.8 million a year earlier, its revenues falling by 13%.
The publisher of the National Post and the Montreal Gazette, among others, says the loss amounted to 20 cents per diluted share for the quarter ended February 29, compared to a loss of 21 cents per diluted share a year earlier. .
Postmedia’s second quarter revenue totaled $97.3 million, down from $111.8 million in the same quarter last year.
According to the company, the decline was mainly due to a drop in advertising revenue to 43.2 million, from 54.5 million a year ago, while circulation revenue fell to 32.9 million, from 37. 0 million.
Revenue for the parcel sector increased 20.5% to 14.2 million, compared to 11.8 million in the same quarter last year.
Postmedia CEO Andrew MacLeod says the company remains focused on transforming its business and creating a sustainable news media model for the future.